Islamabad: Pakistan’s exports to seven regional countries increased by 20.61 percent in the first ten months of the fiscal year (2023-24) compared to the corresponding month of the previous year.
“Afghanistan’s exports to regional countries including Afghanistan, China, Bangladesh, Sri Lanka, India, Nepal and Maldives were as low as $3,655,483 million, which is 14.24 percent of Pakistan’s total exports of $25,669,182 million during July-April.
China ranks first among Pakistan’s exporters to neighboring countries, ahead of other countries like Bangladesh and Afghanistan.
Pakistan has border trade with its more distant neighbors Sri Lanka, India, Nepal and Maldives.
Pakistan’s exports to China increased by 37.68 percent in the current ten months to $2,341,089 million from $1,700,303 million last year, while exports to Afghanistan decreased by 0.54 percent from $435,954 million to $433,567 million.
Bangladesh’s exports to Bangladesh also fell by 15.82 percent to $542.165 million from $644.104 this year, while exports to Sri Lanka increased by 35.83 percent to $326.995 million from $240.732.
Exports to India increased to $1.376 million from $0.250 million last year.
Exports to Nepal also decreased by 1.38 percent to $2,420 million from $2,454 million, while exports to the Maldives increased by 13.90 percent to $7,671 million from $6,783 million.
On the other hand, imports from seven countries in the region recorded an increase of 26.77 percent in the past year to $ 10,925,280 million compared to $ 8,617,786 million last year.
Imports from China during July-April 2023-24 were recorded at $10,648,334 million compared to $8,343,937 million during July-April 2022-23, an increase of 26.61 percent.
Among other countries, imports from India were $172.076 million against $151.987 million, an increase of 13.61 percent, while imports from Afghanistan decreased by 47.34 percent from $13.959 million to $7.350 million.
Meanwhile, imports from Sri Lanka rose to $49.055 million from $40.923 million, while Pakistan’s imports from Bangladesh rose to $48.040 million from $66.218 million last year.
It was also reported that imports from Nepal to the country decreased by 61.71 percent from 0.734 million dollars to 0.281 million dollars.
